Bill Text: IL SB1248 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides that the county clerk shall abate 10% of the taxes imposed on qualified forest property that is part of a proposed new housing development. Provides that the owner of the property shall obtain approval from the Department of Natural Resources and shall submit a conservation plan and a new housing development plan to the Department of Natural Resources. Provides that "qualified forest property" means land of at least one acre that: (i) is at least 10% stocked by forest trees of any size; (ii) includes forest strips that are at least 120 feet wide; (iii) is managed in accordance with a conservation plan approved by the Department of Natural Resources; and (iv) is not developed for non-forest use as of January 1 of the first taxable year of the abatement. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB1248 Detail]
Download: Illinois-2019-SB1248-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by adding | ||||||||||||||||||||||||
5 | Section 18-184.15 as follows:
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6 | (35 ILCS 200/18-184.15 new) | ||||||||||||||||||||||||
7 | Sec. 18-184.15. Qualified forest property abatement for | ||||||||||||||||||||||||
8 | new housing developments. | ||||||||||||||||||||||||
9 | (a) Notwithstanding any other provision of law, the county | ||||||||||||||||||||||||
10 | clerk shall abate 10% of the taxes imposed on qualified forest | ||||||||||||||||||||||||
11 | property that is part of a proposed new housing development. To | ||||||||||||||||||||||||
12 | qualify for the abatement, the owner of the property shall | ||||||||||||||||||||||||
13 | obtain approval from the Department of Natural Resources. The | ||||||||||||||||||||||||
14 | application for approval shall include a conservation plan | ||||||||||||||||||||||||
15 | prepared by an arborist for the property as well as a new | ||||||||||||||||||||||||
16 | housing development plan, both submitted by the owner of the | ||||||||||||||||||||||||
17 | property. Upon approval by the Department of Natural Resources, | ||||||||||||||||||||||||
18 | the abatement shall continue as long as the property meets the | ||||||||||||||||||||||||
19 | criteria for qualified forest property set forth in this | ||||||||||||||||||||||||
20 | Section. | ||||||||||||||||||||||||
21 | (b) As used in this Section: | ||||||||||||||||||||||||
22 | "New housing development plan" means a proposed | ||||||||||||||||||||||||
23 | development plan with structures that will be used as a home or |
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1 | residence by one or more persons, including but not limited to, | ||||||
2 | manufactured homes or multifamily housing. | ||||||
3 | "Qualified forest property" means land of at least one acre | ||||||
4 | that: (i) is at least 10% stocked by forest trees of any size; | ||||||
5 | (ii) includes forest strips that are at least 120 feet wide; | ||||||
6 | (iii) is managed in accordance with a conservation plan | ||||||
7 | approved by the Department of Natural Resources under | ||||||
8 | subsection (a); and (iv) is not developed for non-forest use as | ||||||
9 | of January 1 of the first taxable year of the abatement.
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10 | Section 99. Effective date. This Act takes effect upon | ||||||
11 | becoming law.
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